Fianna Fáil has called for an independent investigation into allegations about a former executive at the National Asset Management Agency.
Speaking in the Dáil the party's finance spokesman Michael McGrath said the agency had reacted slowly to allegations around a former staff member.
He also described it as inadequate that NAMA carried out its own internal investigation.
Mr McGrath was referring to an investigation into former senior NAMA executive Enda Farrell, who he said had purchased a house from the agency's portfolio in a private deal without it being advertised or being put up for sale on the open market.
He said NAMA's internal auditors Deloitte found that the agency had approved the purchase, not knowing that the purchaser was one of its own employees.
Mr McGrath said that in addition, confidential commercial information had been removed by Mr Farrell from the NAMA files.
He said NAMA lawyers said it was done in a premeditated way over the course of a few months.
Mr McGrath asked how it could be possible that this information, pertaining to over 11,000 loans, with a nominal value of about €74 billion, could be compromised in this way.
In response Minister for Finance Michael Noonan said he supported NAMA's action in dealing with the incident and said Deloitte found that the sale price of the property was at market value.
He said NAMA employees must agree to full disclosure of all assets and any changes that may occur in that information and Deloitte had found that the former employee in question had not disclosed the correct information about himself.
Mr Noonan said NAMA would be providing all the necessary information to the gardaí for their investigation and the agency was also taking legal proceedings against the former employee.
Mr McGrath said he disagreed that NAMA had made a swift response and said the agency was not empowered to carry out criminal investigations.
He said the practice of NAMA engaging in private sales, without putting them up for sale, “stinks”.
Mr McGrath said the potential was there for commercially sensitive information to come into the hands of people who would benefit hugely from that knowledge and called for an independent inquiry.
Mr Noonan said the matter would become sub judice very quickly and that everyone needed to be careful what they said.
He said the Mr McGrath had made some incorrect allegations and that the investigations were proceeding.
